Banksters... Fed... Overdraft... Rawr!

So I got money out of an ATM yesterday and ended up overdrawing the account by $0.10 (yes, ten cents) because the machine I usually use was out of order and I went down the street to use a different one, and the bank charged a fee for using another bank's ATM...

I came home and called the bank's automated system to check the balance, hoping the ATM receipt was wrong... it wasn't. So my husband called the bank to talk to someone. The woman at the bank said the transaction was pending and the overdraft fee hadn't been tagged on yet. So, my husband took $1 to the bank real quick so we wouldn't get the fee.

Apparently, the bank teller told my husband that if he didn't deposit that dollar, we would've got a $37 fee for our $0.10 overdraft. That's like... what? 3700% interest on a 10-cent loan?! Something completely ridiculous like that anyway...

She told him that the bank fee was actually only $5, but the FED charges the BANK $32 when a customer overdrafts, so they have to tag that on too. That's just ridiculous!

I even called to check our balance before I went to the ATM, to make sure there was enough for the withdrawal plus the typical $1.75 ATM fee, but I didn't expect to use a different ATM and get an additional fee.

Anyway, this is what I think of bankers... :bash:

/end rant

reply to post by eMachine


Those fees are how many banks make their money. They know that people will overdraft their accounts before payday sometimes and make tons of money when that happens. You are not the only one it happens to, so don't feel to bad.

You have to get an account with overdraft protection.
I've had a credit union account for 30 years (since ai was 12) and have never paid an overdraft fee above the banks service which is that 5 dollars. The 32 dollars doesn't get tacked on.

Credit unions are a pretty good bet nowdays. Many of them will still be around when the big banks arg going down like dominos.

BoA Overdrafted my overdraft quite a few times. Blackballed before the mistake was caught.

They still want the money. And I have 5 more years till I can get a bank account. Although Wells Fargo took me before the black ball went into effect.

I've never heard of being overdrafted for an overdraft...... they could remove a few, but something went screwy. And before I had a chance to try to fix it, family emergency moved out of country, and forgot to keep up with things in the swing of everything.